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LA515-142-950087.v1 <br />$4,545,000 of the Bonds (the “Assessable Improvement Bonds”) maturing in the amounts and on the dates set forth below are being issued to finance the cost of the Assessable <br />Improvements: <br /> Year Amount Year Amount 2026 $390,000 2031 $460,000 <br />2027 405,000 2032 475,000 <br />2028 420,000 2033 490,000 2029 430,000 2034 505,000 2030 445,000 2035 525,000 <br />$505,000 of the Bonds (the “Water Improvement Bonds”) maturing in the amounts and on <br />the dates set forth below are being issued to finance the cost of the Water Improvements: <br /> 2.05. Optional Redemption. The City may elect on February 1, 2032, and on any day thereafter to prepay Bonds maturing on or after February 1, 2033. Redemption may be in whole or in part and if in part, at the option of the City and in such manner as the City will determine. If less than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in <br />Section 7 hereof) of the particular amount of such maturity to be prepaid. DTC will determine by <br />lot the amount of each participant’s interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a price of par plus accrued interest. <br />Section 3. Registration and Payment. <br /> 3.01. Registered Form. The Bonds will be issued only in fully registered form. The interest thereon and, upon surrender of each Bond, the principal amount thereof is payable by check or draft issued by the Registrar described herein. <br /> <br /> 3.02. Dates; Interest Payment Dates. Each Bond will be dated as of the last interest payment date preceding the date of authentication to which interest on the Bond has been paid or made available for payment, unless (i) the date of authentication is an interest payment date to which interest has been paid or made available for payment, in which case the Bond will be dated <br />as of the date of authentication, or (ii) the date of authentication is prior to the first interest payment <br />Year Amount Year Amount 2025 $35,000 2033 $35,000 2026 25,000 2034 35,000 <br />2027 30,000 2035 35,000 2028 30,000 2036 35,000 2029 30,000 2037 40,000 <br />2030 30,000 2038 40,000 <br />2031 30,000 2039 40,000 <br />2032 35,000 <br />